ApeCoin, (APE), is one recent success story in crypto. It multiplied its value by over 10x within the first week of trading. Decentraland has been overtaken by the BAYC token.

ApeCoin overtakes Decentraland

ApeCoin, (APE), has been the main focus for investors since it was launched just over one month ago. The native token of one of the world’s most prestigious NFT collections, the Bored Ape Yacht Club, has now overtaken Decentraland (MANA) as the top metaverse token.

Rallying in a bearish market, ApeCoin’s market value has grown to $5.45 billion, significantly higher than MANA’s $3.5 billion market cap.

ApeCoin is now the 28th biggest crypto ranked by market cap, while MANA’s 35% decline in the last month has seen it drop to the 37th position.

ApeCoin in the Bounce

ApeCoin’s (APE), has continued to bounce despite the bearish trend in the crypto market. Over the last 24 hours, APE is up by 5.5% and 15% in the last week – the third biggest gains in the top 100 cryptos.

ApeCoin (APE), seven day price chart Source: Tradingview

Apart from hints that the Otherside token might be the native one, DAO and the ApeCoin Community discussed how to introduce staking as well as an allocation of ecosystem funds for staking pool pools.

Flipside

• APE is this week’s most traded token by the top 100 ETH whales, an accumulation of over 2.3 million APE tokens worth $41.5 million.

Care is a must

ApeCoin’s rally has been fuelled by support from its community and rumors of it being the native token of the much anticipated Yuga Labs’ metaverse.

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